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FOX News
Nov 29, 2012 10:00am PST
house is in fact open to having spending cuts as part of this discussion in the fiscal cliff talks. i think what is going on here is the white house heard the criticism and they are trying to breathe some new life into these talks. politico reported there was a phone call between the president and speaker boehner. they claim it was curt as in a short call that did not go well. jay carney just pushed back and said it was a 28-minute phone call. he said it was frank and direct. and it was good, it was positive. they believe, the white house does, that they are making progress. but i pressed jay carney. i said will spending cuts be included? and here is what he said. >> can you hold up that budget, look in the camera and say to your fellow democrats on capitol hill, vote for and include some of these spending cuts in this deal to avoid the fiscal cliff? because that's not what they are doing. should they include those? >> yes. and i know that democrats accept that there -- this has to be a balanced package that includes revenues and cuts and spending cuts. >> reporter: so news the white
FOX News
Nov 30, 2012 2:00am PST
they stave off the fiscal cliff. spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations ahead. we got a little sample of this yesterday from senate majority leader talking to john boehner. >>
FOX News
Nov 29, 2012 2:00am PST
of the fiscal cliff. we asked each side what they would be willing to cut to make sure your taxes don't go up. plus, it isn't a wild safari, this is staten island. how these two pulled off the greatest scape. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. this bible changed the world. i'm kirk cameron. four hundred years ago our forefathers risked their lives to bring this bible to the shores of america. because it contained the principals for economic liberty, political liberty and religious freedom. the 1599 geneva bible. it was the first complete english translation, complete with chapters, numbered verses and 300,000 utterly unique study notes. it actually came out before the king james version and because the government didn't authorize it, it was outlawed. but it was a bible by the people, for the people, the book that built america. and now for the first time in 400 years it's available
CSPAN
Nov 29, 2012 10:00am EST
in the impending tax hikes and budget cuts. focusing on a particular issue of the fiscal cliff. each day. this morning's focus was on the payroll tax cut. continues. host: joining us now is kim dixon, a tax policy correspondent for reuters. this is part of our series on the so-called fiscal cliff. today we're looking at the issue of the payroll tax cut. kim dixon, when did the payroll tax cuts issue come into effect? guest: about two years ago at this time. expiration of the bush-era tax cuts that began in 2001 were set to expire. republicans control the house. president obama wanted to continue them for everybody except those in the top 2% tax rate. --wasn't ended the year deal it was an end-of-the-year deal. the obama administration was looking for the stimulus measure. they thought it would be hard for republicans to oppose a tax cuts. host: the money rigidly was going where -- the money originally was going where? guest: going to the social security trust >> we take you live now to the u.s. capitol and house speaker john boehner. >> the president has warned us about the dangers of go
FOX Business
Nov 29, 2012 11:00am EST
and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not need a victory lap, it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they are really going to make. with that, i will take a few questions. [inaudible question] >> we have outlined very specific proposals that we passed in last year's budget and the budget before. we know what the venue is. what we do not know is what the white house is willing to do to get serious about solving our debt crisis. [inaudible question] >> i am not going to get into the details. it is very clear what kind of spending cuts need to occur. we have no idea what the white house is willing to do. [inaudible question] >> no, no, no. stop. i have to tell you, i am disappointed in where we are. i am disappointed in what has happened over the last couple weeks. with the
FOX News
Nov 30, 2012 4:00pm PST
the battle over the so-called fiscal cliff. that's the combination, of course, of spending cuts and exexpiring tax breaks set to kick in about a month from now. economists say it could cause another recession. today, the president visited a toy factory in pennsylvania to make his case for his plan. he is asking americans to pressure congress to extend tax cuts for the middle class right now. in fact, extend tax cuts for everybody for the first $250,000 of income. so the families won't have to worry about a new year's day tax hike. republic leaders say letting the tax cuts expire on income of more than $250,000 would hurt small businesses and, as they call them. job creators. let's get to ed henry who is with us from the white house tonight. president says the election proved most americans are on board with this plan. >> that's right. he, without using the word thinks he he basically has a mandate. even though the election is over, he is out campaigning for this again because he thinks there is a dead lock here in washington and he wants to break it with pressure points from the
FOX News
Nov 30, 2012 3:00am PST
. the president makes an offer to avoid the fiscal cliff. lso where are the cuts? we are live in washington with the details. look at that guy. a construction worker walks in a convenience store checks his number and walks out perhaps a multimillionaire. we'll tell it to you straight away. >> officer and a gentleman. you will hear from the cop who spent his hard earned cash to buy a pair of socks and shoes. he pet them on him. "fox and friends" starts right now. ♪ ♪ ho, ho hompt >> indeed. rick it is not christmas time here in new york city until rick descends down one of the tallest buildings in connecticut and there he is. screen left from last year screen right. when he bumped into the building. good morning to you rick. >> some traditions like fruit cake that shouldn't happen . maybe it is one of those tradition. you do it once and this is a building here. give you a shot from the top going down. it gets a little dark there. it gives you an individual. tan ford downtown height lights and they start it off by santa going over this with elvescan on sunday night. last couple of years w
KOFY
Nov 28, 2012 9:00pm PST
middle-class tax cuts and avoid the fiscal cliff. taxes will go up an average of $2200 and both parties say they are open to compromise. taxes concern small business owners who met with the president yesterday. one of them runs an organic mushroom company. he told us that higher taxes will kill his business. >> we are most passionate about, a business like ours, if people are going to be taxed a couple more thousand dollars, that will affect us, as well. >> he admits his small business has benefited from programs he and friend started it three years and now they have 31 employees. >>> for the first time since the election, president obama will meet privately with the man he beat in the race for president, mitt romney. they will talk tomorrow about ideas reviving the economy. president obama said that he would reach out to mitt romney and hold that private meeting after the election. today the president met with yahoo ceo marissa myer. she is trying to avoid the fiscal cliff. and she told a reporter, quote the baby has been way easier than everybody made it out to be. 37-year-old added s
CSPAN
Dec 3, 2012 5:00pm EST
the fiscal cliff prospect is the commendation of tax increases and spending cuts across the board and how they would have negative impacts. so we need to do it in a smart way. even as we find savings, we need to make targeted investments and we need to do things that help our economy and the long-term. >> [inaudible question] >> it is not specifically designed for that. it is the president's broader approach this. significant savings need to be where we can get them, a trillion plus in the budget control act, an additional $600 billion in savings but ford is part of the proposal. and also revenues from the wealthiest 2%, coupled to make the economy grow. it is stronger growth, stronger job creation. as a principle, deficit reduction done well and done right is positive for the economy. >> on the subject of israel, in the last few weeks, you asked about -- [inaudible] [inaudible question] the u.s. has been very steadfast to stand by israel. i'm wondering in light of that, are there any statements that have gone out in regards to what the president has done to express this and what the isra
Current
Dec 5, 2012 9:00am PST
this fiscal cliff thing obviously everybody's talking about oh we've gotta cut the entitlements like medicare. you've been pointing out something for awhile that we don't have a medicare problem. we have a healthcare cost problem. explain please, healthcare geek. >> this is one of the things people should really pay attention to because the healthcare crisis in this country gets so complicate and convoluted that people tune it out and then the republicans have this incredible opportunity to swoop in and make stuff up. we don't have a medicare problem. we have a healthcare cost problem. there is no competition in the healthcare market place right now. >> stephanie: right. >> okay. and people make money in the healthcare industry when prices go up. >> right. >> corporations make money when prices go up. we're talking about medical device manufacturers, drug companies, health insurance companies, they all make money the higher the prices are. they have no incentive to work for the public good. their incent sieve t
CNN
Nov 30, 2012 1:00pm PST
on the stump pressing republicans to cut a deal averting the fiscal cliff. >> it's like the lump of coal you get for christmas. it's a scrouge christmas. >> there's a stalemate, let's not kid ourself rs. >> reporter: things got tense after secretary geithner visited capitol hill thursday to present what republicans are calling an unreasonable proposal. it includes $1.6 trillion in new taxes. in part, through raising rates on the top 2%. and lips loopholes and reductions. $50 billion in stimulus next year, and $400 billion in medicare and other entitlement savings to be worked out. >> i think the proposal delivered here by secretary geithner was not a serious proposal. >> they want this extra spending that's greater than the amount willing to cut. >> democrats say it was just a starting point. and one republicans should counter. >> there will be prolonged negotiations. and all of us are going to have to get out of our comfort zones to make that happen. >> cnn learned last week the republicans gave the white house their own starting position, which democrats consider unbalanced. extending all
CSPAN
Dec 6, 2012 9:00am EST
-called fiscal cliff. this is in fact the family and business tax cut certainty act of 2012. while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. ma
CNN
Nov 30, 2012 1:00am PST
time, we're getting a look at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless the white house and the republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the white house for us tonight with new developments. jessica, what are the specifics of this offer tonight? >> reporter: hi, wolf. according to senior officials on both sides of the aisle, the president is asking for $1.6 trillion in new taxes. that includes raising taxes for families who make $250,000 or more. you'll recognize that as a pledge from his campaign. and it also includes limiting deductions and loopholes as well as other changes to capital gains and dividends taxes. well, that is the headline for republicans, wolf, who say it is far more money in tax rates than they ever expe
MSNBC
Dec 1, 2012 9:00am PST
,000 jobs as part of the automatic cuts from the fiscal cliff. "the press telegram" in long beach, california has an article entitled "small in number, large in clout" about a strike that has slowed the nation's busiest cargo complex at the ports. they've been offered a salary boost to 195,000 with 11 weeks paid vacation. a ten-day walkout in 200002 caused $15 billion in losses. >>> the "lewiston tribune "in idaho, wanted experienced pot farmer. a washington state man seeking experts to develop a marijuana industry. possession of the drug will be legal in the state thursday. >>> now to the mystery surrounding the second winner of that massive powerball jackpot. one couple has come forward with their golden ticket. the other winner still unknown. there is, however, surveillance video showing a man who appears to be celebrating after checking the numbers on his ticket but he hasn't come forward yet. nbc's tom costello is in maryland with his story. >> alex, good day to you. everybody in this gas station here in upper marlboro, maryland says they really believe that this guy wasn't p
PBS
Nov 29, 2012 6:00pm PST
of refusing to talk specifics about how to avoid the fiscal cliff. the two sides traded charges of bad faith as year-end tax hikes and spending cuts moved another day closer. on the face of it there seemed to be little movement today. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sreenivasan: treasury secretary timothy geithner and legislative chief rob nabors arrived at the capitol this morning, for meetings with congressional leaders. house speaker john boehner also spoke to president obama on the phone last night. he said he wanted to know where the administration would rein in spending, but that he had heard nothing new. >> i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president is really willing to do. listen, i remain hopeful that productive conversations in the days ahead can be had but the white house has to get serious. >> sreenivasan: senate minority leader mitch mcconnell echoed that complaint. in a statement, he said, "today, they took a step backward and
CBS
Nov 29, 2012 5:00pm PST
his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an extension of middle class tax cuts now. democrats say their position is clear and they want a serious offer from republicans. >> the american people want us to avoid the "fiscal cliff" with a balanced approach. >> reporter: geithner is here in the halls of congress trying to clear some big hurdles with republicans. once a deal is closer president obama will take over the talks. so far independent senator joe lieberman is not encouraged. >> if we go over the cliff it's going to send the country back into recession. >> reporter: vice president joe
CNN
Nov 29, 2012 4:00am PST
the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on those folks really doesn't address the m
FOX News
Nov 29, 2012 12:00pm PST
it if a minute. >> before the fiscal cliff deadline the idea of the coming expiration of tax cuts and spending cuts impacting our 401(k)'s and stocks are edging higher. they are optimistic today on wall street and are optimistic congress and the white house will strike a deal but the deadline. stocks slid early by 85 points ben speaker said he was disappointed in the lack of progress. but that could be for public consumption there is progress behind-the-scenes. and now, at least in public, he sounded irritated but i am told there is something different behind the scenes, is that true? >>reporter: he did sound irritated which was striking, because after the president of the united states and speaker boehner spent 15 minutes on the phone according to a source familiar with the call, a lot of presidential time and speaker boehner time after a leak was made to a political publication, online publication, the speaker was not amuseed. >> this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaigns that have leaks in the press are
FOX News
Nov 30, 2012 8:00am PST
leadership says he thinks president obama wants to go over the fiscal cliff by proposing higher taxes, no spending cuts and no plans to save entitlements. with president obama going to pennsylvania today, the house republican whip, kevin mccarthy's office put out a video profiling a small business nearby in pennsylvania that would get hurt by a tax hike. >> i'm jerry gorsky from an engineering company. however good or bad we do is my income. this notion of $250,000 being top 2% or the wealthy people in america ignores the way most small businesses work in america. >> reporter: i mentioned president obama is going out on the trail, if you will in pennsylvania to sell his arguments. one would expect we would hear some sort of response from speaker john boehner after that. jon. jon: what are the democrats saying? i mean about these g.o.p. complaints? what is your response? >> reporter: they are saying republicans if you don't like the president's plan, where is your own plan? they are asking for specifics on revenue in terms of tax revenue. they are also asking for specifics on what repu
NBC
Nov 29, 2012 7:00am PST
. >>> treasury secretary tim geithner is holding talks about avoiding the year-end fiscal cliff of tax hikes and spending cuts. republicans are asking for more details from the white house about how president obama would curb the growth of benefit programs like medicare and medicaid. >>> the woman who could be nominated as the next secretary of state got a big show of support wednesday in the face of growing republican criticism. president obama called susan rice extraordinary and said he couldn't be more proud of the job she's done representing the u.s. at the united nations. and outgoing secretary of state hillary clinton said rice has done a great job. rice has been under fire, though, for her initial comments about the deadly september attack on the u.s. consulate in libya. >>> president obama welcomes election rival mitt romney to the white house today. they'll have a private lunch together. the president promised in his victory speech to meet with romney after their bitter campaign and consider his ideas for making government more efficient. >>> and yet another arrest this morning for
FOX News
Dec 1, 2012 3:00am PST
's -- there is really not a fiscal cliff. there is really not a fiscal cliff. the fiscal cliff like s&p tried to explain a year and a half ago is if you don't make cuts, we didn't make cuts, they downgraded us. that will be the fiscal cliff. >> perhaps another downgrade. >> yes. >> congressman, thank you for being here on the first day of december. have a great christmas if we don't get to see you. >> what if do you see me. >> then i will say it again and i will buy you coffee. >> great. i hope you do as well. thank you, merry christmas. >> coming up, one with nature. taking on a whole new meaning for this group of kayakers. tell you about their scary encounter out in the open sea. >> plus they just became millionaires but this midwest couple hoping the money will not change who they are. hear how they are going to spend their cash. are they going to get their own reality show? >> i hope so. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one s
FOX Business
Dec 4, 2012 9:20am EST
the bush tax cuts. it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes. stuart: that's something that the president's absolutely insisting on. he wants tax rates to go up for the top two income brackets and that's being forced by the republicans. they don't want the rate to go up. they'll pay more in overall revenue, but don't want the rate to go up. your comments please on the president's stand-fast position on raising tax rates? >> well, rates are where the real action is, i mean, if you broaden the base and lowered rates, tax revenues on the rich went up. you'd have far less-- and the when you're growing the economy and profession of vobs and output, employment
CNN
Nov 30, 2012 11:00am PST
for word. but first this, the fiscal cliff, the talks hit a huge road bump. zingers and verbal jabs are flying while actual talks are at a stand still. president obama says republicans must agree to preserve a middle class tax cut as first part of any deal. and he linked republicans to scrooge today while touring a pennsylvania toy factory. listen. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. every family, everybody here, you'll see your taxes go up on january 1st. i mean, i'm assuming that doesn't sound too good to you. that is sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> that's pretty scroogy, right? president obama's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say, the president's proposal's nothing but a political stunt. here is boehner. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new tax
FOX Business
Nov 29, 2012 1:00pm EST
toward a deal to avert the fiscal cliff. speaker boehner said republicans put revenue on the table but the president and democrats haven't put enough on the table about spending cuts and are not serious about spending cuts. it is democrats are not serious about tax revenues. still one top democrat said, don't listen to the rhetoric. >> going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> speaker boehner this morning ssys there is no progress all you have to do is just listen to what's happening out there and you know there is progress? >> speaker boehner in his press conference said, quote, this is a moment for adult, for some adult leadership. kind of a slap at the president there, ashley. ashley: boy oh, boy. the rhetoric starting to get a little sharper with each passing day and hour. peter, on another issue what is the latest on the capitol visitors center being evacuated? >> looks like it may have been a false alarm. there were a number of fire trucks up here on capitol hill a
FOX
Nov 29, 2012 5:00pm PST
the fiscal cliff. nothing much seems to have changed. democrats want to raise taxes and republicans still want spending cuts. >> the president will not sign legislation that extends the tax cuts. >> time for the president, democrats, to tell the american people what spending cuts they are willing to make. >> each side accuses the other of not providing expects. >>> vice president joe biden went to costo. he bought a television and other items. he said he was there to demonstrate why it is important to raise taxes on the wealthy. >>> with the election behind them, president obama and mitt romney had lunch together tonight at the white house. cameras got a glimpse at mitt romney. the lunch was private. it lasted over an hour and the white house said the president did not have an agenda here. the president prompted to meet with mitt romney to discuss how they could work together. and the menu, the white house said white turkey chilly and southwestern grilled chicken salad. >>> fewer americans filed unemployment claims last week. 393,000 people filed for jobless claims. it was the second stra
FOX
Nov 29, 2012 5:00am PST
-- forward on avoiding that fiscal cliff. he is due to meet to talk about how to avoid a series of tax heights and series of cuts due to begin in january. president barack obama said he will do whatever it takes to get this done and also today, president barack obama will have lunch at the white house with mitt romney, his former rival. during his election speech he said he would reach out to mitt romney and he is doing it. the white house has no specific ideas but they are looking forward to making the government work more efficiently. >>> there is an accident in the east bay, a big-rig slammed into three parked cars and has spilled diesel. it slammed into these cars here and the fire department is trying to mop up the diesel fuel spill. this is right between san leandro and cost trough valley. and it is off of 162nd avenue and you can see that it has created quite a mess there, so the crews will be there for quite some time trying to contain this. it did happen almost an hour ago so they have been on the scene almost an hour ago. you can see traffic is flowing nicely in both directi
CSPAN
Dec 4, 2012 12:00pm EST
as part of a balanced approach to deficit reduction and the fiscal cliff. he will not accept a deal that has specific cuts in spending, in entitlement programs that asks middle class americans, seniors who need loans, disabled children to pay a price on the one hand, and the promise, the vague promise, the unspecified promise of a revenue that appears from wealthier americans in the future. that's not a deal the president will not sign. >> i understand the process and what the white house is looking for from republicans, but i'm asking about the president's position. a yes-or-no question. his position that the tax rate has to go to 39.6% on january 1. >> he will not sign the bush tax cuts for wealthy americans. they have rates for top earners at 35%. if you don't sign it, it's up to 39.6 #, the top rate. that's a fact. secondly, he has not seen a single proposal or acknowledgement that a proposal is necessary or will be forthcoming from republicans that even it would be part of the balanced deal. we are now where we are in december, and we need congress, republican leaders in congre
FOX News
Dec 3, 2012 4:00pm PST
, scientists say they need to study the brains of more athletes. well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax revenue. that th
CSPAN
Dec 4, 2012 5:00pm EST
stories day after day on the so-called fiscal cliff often omit that the senate has passed legislation to shield 98% of families and 97% of small businesses from the income tax part of this so-called fiscal cliff. we passed the middle-class tax cuts act on july 25 of this year and we sent the measure to the house of representatives. did speaker boehner and the republicans in the house promptly pass this popular bill and send it to president obama for his signature? did they move to protect 98% of middle-class families from this tax hike in january? no. no. they decided to hold the middle-class tax cuts passed by the senate hostage in an attempt to push for tax cuts for the folks they care the most about, the top 2% of highest earning households. republicans fighting for millionaires and billionaires is not a new story. in 2001, president george w. bush decided to spend a large portion of the surpluses he inherited from president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, t
CNN
Nov 30, 2012 4:00am PST
his case for his version of resolving the fiscal cliff. what does he intend to say and how does he intend to sell it? >> he's going to pennsylvania, a toymaker to try to drive home this idea of pushing for cuts for the middle class. there's already a senate tax bill that would preserve the tax cuts for the middle-class, something that he believes everyone agrees on. certainly republicans agree that taxes on middle-class shouldn't go up either. they just don't want to see them go up on anyone. he's visiting a toymaker that he says relies on middle-class families, who could be hit hard by a tax break. i suspect we'll hear a lot of the same language we've been hearing from him on the campaign trail. >> all right athena, thank you so much. going to a toy factory, the fiscal cliff debate, could steal christmas pretty obvious there. >>> the white house releasing this photo of mitt romney and president obama shaking hands during yesterday's private lunch meeting. >> so there was a photo after all. >> released and taken by the white house. the former rivals promised to stay in touch after
Current
Nov 29, 2012 3:00am PST
during fiscal cliff negotiations, we're not seeing much in terms of a deal. the latest roadblock is the cost of federal retirement programs. republicans are staying is up to the president to cut back on medicare medicaid and social security but democrats want entitlement programs completely off the table. today, the white house is sending treasury secretary timothy geithner and congressional negotiator rob neighbor to capitol hill where they will lay out their proposal with speaker boehner. more bill press is coming up after the break. as always, we're live in our chat room and would love to see you there. current.com/billpress. we're right back. you're about to watch a viewer created ad message for little caesars who proudly salutes unites states veterans everywhere. >> hi, i'm rick loz. i joined the united states air force in 1987. as i was leaving the service i went into a civilian career for a little bit but i was looking for a little bit more than what the civilian career had to offer me and that's when learned about the little caesars
CNN
Dec 1, 2012 11:00am PST
know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back in
ABC
Nov 30, 2012 1:40am PST
of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have slammed him for campaign-style politics that they say just won't get the job done. rob and sunny, back to you. >> can you really imagine that they're not going to reach some sort of deal to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now, part of the negotiations where, the congressional control over the debt limit would go away. and congress does not like to have its power take any way. so maybe the white house, upped the an
CNN
Nov 29, 2012 2:00am PST
towards the final solution, a final agreement to prevent this fiscal cliff scenario. the president saying he believes that this can get done before christmas. take a listen. >> a clear majority of americans, not just democrats, but also a lot of republicans and a lot of independents glee that we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. if we agree that we should not raise taxes on middle class families, let's begin our work with where we agree. >> of course there are some lawmakers who are not that optimistic. they don't think there's enough time between now and the end of the year to get a deal done. nonetheless the president will continue pushing his message. he heads to pennsylvania tomorrow. he will go to a manufacturing plant where he will continue talking about extending the middle class tax cuts, not extending them for the upper class americans. in the meantime, there's pushback from republicans who are saying the president should not be out the road campaigning but back here in washington negotiating
CNN
Dec 3, 2012 6:00am PST
are nowhere close to a deal to avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house minority leader and democrat nancy pelosi also jumping into
CNBC
Dec 3, 2012 6:00am EST
the fiscal cliff, you see these huge spending cuts kicking in at the same time as higher taxes, i know the thinking is the president can say this is the republican's fault for doing this, but do you think he'd really stay over the cliff given what that would mean to the economy in such rapid fire fashion? >> i think the sequestration is more of a problem thax the tax rates. sequestration requires very big cuts very quickly which would jaw the economy. i think the president could give a speech over the next two weeks, prepare americans for going over the cliff and it's not guilty not going to be a big deal because tax rates are going to revert to where they were and the serious conversations with republicans begin. it gives everybody an opportunity to save face. the president gets what he wants. all the tax rates are go up. he can pull back the 98%. the republicans won't go against that. so in some ways, it works in everyone's political interest. sequestration is a big problem because if that goes into effect, the country certainly almost goes into recession. >> the sad thing is, we're
FOX News
Dec 4, 2012 3:00am PST
, kelley >> chris: from the photocopy cliff to the fiscal cliff. >> one thing for sure you guys work together and averted the crisis of losing the phone and able to get it by cuts cutting it. you got a balanced approach. >> gretchen: kelley, that is brilliant. >> because the republicans have given a bold counter offer. come to me now, guys, we are okay. in a letter to president obama, the president writes that the american people expect the leaders to find common ground . with that they proposed a bold counter offer for averting the fiscal cliff. the republican plan seeks $800 billion through tax reform and mandatory spending cuts. the white house said that the republican proposal falls short of what the president wants and cannot be taken seriously. >> we understand they don't agree with everything but we have not seen alternatives for them and they spoke about the need for revenue and that acknowledgment is welcome. but thus far republicann leaders are adament don't believe rates should go up on the top two percent of the american people. the american people disagree. rates have to
CNN
Nov 30, 2012 6:00am PST
hill as the fiscal cliff looms now just 32 days away. house speaker john boehner says no progress has been made in two weeks of talks, and republicans want the white house to come up with significant spending cuts. senate democratic leader harry reid responded to boehner saying, quote, i don't understand his brain, unquote. >>> when those talks over the fiscal cliff seem to be heading towards a stalemate but do the capitol hill theatrics tell the whole story? here's thousand politico summed it up, listen to top democrats and republicans talk on camera and it sounds like they could not be further apart. but behind the scenes top officials who have been involved in the talks for many months say the contours of the deal are starting to take shape. well, joining me are jason johnson a political professor, t and a republican strategist ron bonjene, ron, let's start with you, both sides know they'll have to make a deal. one congressman says to get it there has to look like this was fighting this way it's kind of like managing the public's expectati expectations, oh, we didn't give anything,
FOX News
Dec 3, 2012 8:00am PST
parties taking to the airwaves this weekend, trying to blame each other over the fiscal cliff talk. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted. >> we are not going to extend an extension of the tax rates. we think they need to go back to those levels. if you don't do that, you have to ask yourself, whose taxes are we going to raise? were we going to find the money bring a balanced plan in place? jenna: senator lindsey graham, a republican known for reaching across the aisle, not looking at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more
ABC
Nov 29, 2012 7:00am PST
, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of state. susan collins says she will not back rice for the job, until more questions on the attack on the u.s. consulate
FOX Business
Nov 30, 2012 9:20am EST
in the corner and make them rush in the middle of a panic as we are about to fall off of the cliff to cut a deal. stuart: here's my problem. if you get a deal, anything like what the president has proposed, or if you go over the fiscal cliff full tilt, either way, you will have a recession and president obama's second term starts on a very negative note for the american economy. >> you put your finger on the problem. the point of having these fiscal cliff negotiations is to avoid what could lead to a recession, to avoid a calamity. the proposal your putting forward leaves you with an even worse position than you are now, what is the purpose of this? stuart: stay there for a second. i want to get the company's opinion on the raising of the debt ceiling. it is and abolition of the debt ceiling so the president and borrow whatever he wants without congressional authority. >> extraordinary power grab like we haven't seen in a long time. washington d.c. has been in bubble bland. we are in a government bubble. washington d.c. is disconnected from the reality of real-estate going up but the issue is wa
FOX News
Dec 3, 2012 6:00am PST
, not a serious offer. one second. tim geithner from sunday. >> to go over this fiscal cliff because republicans won't raise tax rates on the wealthiest 2% of american would subject the average american to big tax increase and enormous damage from the other cuts that would happen. there is no reason why the country has to go through that. bill: the focus is all on taxes and tax rates and not on spending. how can you be serious when you want to raise $1.6 trillion in taxes at a time when growth is around 2? >> that's the point i was making. they complain about want to go cut spending but they made no offer to cut spending. when the president talked about cutting spending, when they talk about defense spending what happens? they attack him. for the entire campaign all we heard about was how obama wanted to cut medicare. so which is it? i it he cut too much or he doesn't cut anything? and where is there offer? if they say they are the party of cutting spending stop talking about the democrats, make an offer. >> mitch mcconnell is out there every single day saying these are the entitlement changes t
CSPAN
Nov 29, 2012 9:00am EST
discretionary cuts. we are particularly excited doing a lot of work on the fiscal cliff. we talked about medical savings through the programs, address rising national expenditure. will have more to say on taxes, but we are ecstatic to have senator durbin here today who has played such a fundamental role over the last several years. been part of literally every negotiation that has taken place. he still an optimist, so i think that is a sign of progress. he has had a long history of being a champion and advocate for the middle class. he has carried that advocacy in the budget negotiations. part of the cu -- subcommittee, the gang of eight, became a six, almost every game that has been involved in these issues, and, but i think most importantly he has been a fighter for what's right and for having a plan that really stands true to the back of the american people and the people who voted and waited in line for hours, people who want a fair shake out of washington. and so, as a champion of that fair shake i'm excited to have senator durbin. [applause] >> neera, thank you very much for those kind wor
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